Brokerages Set Cassava Sciences, Inc. (NASDAQ:SAVA) PT at $124.25

Cassava Sciences, Inc. (NASDAQ:SAVAGet Rating) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $146.33.

SAVA has been the topic of several analyst reports. Univest Sec initiated coverage on Cassava Sciences in a report on Monday, April 4th. They set a “sell” rating on the stock. B. Riley reduced their price target on Cassava Sciences from $72.00 to $58.00 in a report on Friday, May 6th.

Hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its stake in Cassava Sciences by 17.9% during the third quarter. Victory Capital Management Inc. now owns 13,026 shares of the company’s stock worth $809,000 after purchasing an additional 1,982 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its stake in Cassava Sciences by 2.4% in the third quarter. Metropolitan Life Insurance Co NY now owns 10,784 shares of the company’s stock valued at $669,000 after buying an additional 248 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Cassava Sciences by 43.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 10,333 shares of the company’s stock valued at $452,000 after buying an additional 3,140 shares during the last quarter. Morgan Stanley lifted its stake in Cassava Sciences by 117.8% in the third quarter. Morgan Stanley now owns 354,469 shares of the company’s stock valued at $22,006,000 after buying an additional 191,738 shares during the last quarter. Finally, Cetera Advisor Networks LLC lifted its stake in Cassava Sciences by 80.1% in the third quarter. Cetera Advisor Networks LLC now owns 18,095 shares of the company’s stock valued at $1,123,000 after buying an additional 8,048 shares during the last quarter. Hedge funds and other institutional investors own 34.01% of the company’s stock.

Shares of SAVA traded up $1.61 during midday trading on Friday, hitting $19.24. 1,027,522 shares of the stock traded hands, compared to its average volume of 1,964,639. The business’s 50 day moving average price is $29.06 and its two-hundred day moving average price is $41.82. Cassava Sciences has a 1-year low of $15.72 and a 1-year high of $146.16. The firm has a market capitalization of $771.14 million, a PE ratio of -16.59 and a beta of 0.93.

Cassava Sciences (NASDAQ:SAVAGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.02). As a group, equities analysts forecast that Cassava Sciences will post -1.75 earnings per share for the current fiscal year.

About Cassava Sciences (Get Rating)

Cassava Sciences, Inc, a clinical stage biotechnology company, develops drugs for neurodegenerative diseases. Its lead therapeutic product candidate is simufilam, a small molecule drug, which is completed Phase 2b clinical trial; and investigational diagnostic product candidate is SavaDx, a blood-based biomarker/diagnostic to detect Alzheimer's disease.

Featured Stories

Analyst Recommendations for Cassava Sciences (NASDAQ:SAVA)

Receive News & Ratings for Cassava Sciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cassava Sciences and related companies with MarketBeat.com's FREE daily email newsletter.